Patent Protection And The Role Of Ip Lawyers
Protecting your IP is extremely important. If you have a new and individual invention then it is worth seeking the advice of an IP lawyer to find out if you can patent this. A patent is a registration document which prevents others from copying the invention without your permission and thus restricts it commercial benefits to you.
The WPO (World Intellectual Property Organisation) defines an invention as being "a solution to a specific problem in the field of technology", this includes products and processes. Normally a patent remains valid for up to 20 years (depending on renewal) after this period others then become able to commercially benefit from it.
With ownership of a patent an organisation has the power to protect its valuable idea or invention. There is no onus on them to manufacture products themselves, but of course if they fail to fully exploit the commercial benefit of the invention, during their "lock out" period, then it is their loss.
This is demonstrated quite clearly by the way the pharmaceutical sector works. The creation of a new drug will not long be followed by a patent application, once this is done the marketing will begin, which involves pushing the drug as much as possible to encourage the maximum amount of usage. When this protection period comes to an end, other manufacturers can get the detailed information regarding the composition of the drug, which was previously protected by the patent and can thus begin production. The company producing the drug finances the creation of the brand name which is closely connected with the chemical composition of the drug, this gives the creation some distinction even when the protection finishes. And it will have priced its patented creation at a high level, in order to recoup its development costs and help fund its future research, while generic drugs - which the National Health Service will always choose where possible - are substantially cheaper.
If you think that you have a brand new idea or concept that could be patented, then contact an intellectual property solicitor asap, patents are not just applicable to drugs. A legal IP specialist will help you define and register your development, and advise you on the best route to ensuring it is protected against being copied in the future. With the correct legal protection, you will be able to defend your intellectual property against any attempts to undermine its commercial viability in the marketplace by copying aspects of it. Protecting your IP is always preferable to solving an infringement, so don't delay - your idea should be legally protected from the beginning.
by: Tim Bishop
Qrops Advice And Retirement Solutions Qnups Invest After Retirement Investment Making an investment one hundred and one - Commodity Alternative Investing Suggestions Different Types Of Criminal Lawyers Investing In Veneers Glasgow Checking Your Retirement Finances Tasks Of A Criminal Defence Lawyer Value Your Money By Investing on Multi- Purpose Knives! PA Divorce Lawyer Investing In Shares Is Part Of A Long Term Strategy St Louis Lawyer - The Exact Route To Justification Missouri Workers Compensation Lawyer - To Claim For Your Compensation Divorce Lawyers In Bisbee - Hire Them For Smooth Divorce Proceedings